Corcept Therapeutics Incorporated (NASDAQ:CORT) Receives Average Rating of “Buy” from Analysts

Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) have been assigned an average rating of “Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $18.25.

Several equities analysts have weighed in on the company. BidaskClub raised Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. TheStreet raised Corcept Therapeutics from a “c+” rating to a “b-” rating in a research note on Tuesday, May 19th. Zacks Investment Research cut Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Tuesday, June 23rd. Finally, ValuEngine raised Corcept Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 17th.

In related news, Director G Leonard Baker, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.70, for a total value of $471,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $16.10, for a total value of $80,500.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $80,500. The disclosure for this sale can be found here. Insiders own 15.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank boosted its stake in shares of Corcept Therapeutics by 0.8% during the 4th quarter. Comerica Bank now owns 96,440 shares of the biotechnology company’s stock worth $1,256,000 after acquiring an additional 772 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Corcept Therapeutics by 4.8% during the 4th quarter. Guggenheim Capital LLC now owns 17,319 shares of the biotechnology company’s stock worth $210,000 after acquiring an additional 786 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Corcept Therapeutics by 22.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,539 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 839 shares during the period. Legal & General Group Plc boosted its stake in shares of Corcept Therapeutics by 0.3% during the 1st quarter. Legal & General Group Plc now owns 296,437 shares of the biotechnology company’s stock worth $3,525,000 after acquiring an additional 954 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in shares of Corcept Therapeutics by 3.1% during the 4th quarter. Mason Street Advisors LLC now owns 35,824 shares of the biotechnology company’s stock worth $433,000 after acquiring an additional 1,081 shares during the period. Hedge funds and other institutional investors own 76.16% of the company’s stock.

Corcept Therapeutics stock traded up $0.14 during midday trading on Tuesday, hitting $16.89. The company’s stock had a trading volume of 12,076 shares, compared to its average volume of 1,203,500. The stock’s 50-day moving average price is $15.16 and its 200-day moving average price is $13.11. Corcept Therapeutics has a 12 month low of $9.70 and a 12 month high of $18.52. The company has a market capitalization of $1.91 billion, a PE ratio of 19.18 and a beta of 1.15.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, May 4th. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. Corcept Therapeutics had a net margin of 31.64% and a return on equity of 30.00%. The firm had revenue of $93.25 million for the quarter, compared to analysts’ expectations of $87.01 million. During the same period in the previous year, the business earned $0.20 earnings per share. Corcept Therapeutics’s revenue for the quarter was up 43.8% compared to the same quarter last year. As a group, equities analysts predict that Corcept Therapeutics will post 0.83 EPS for the current fiscal year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

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